The fund trails the benchmark and the category for the first time since it adopted a small-cap strategy. Performance While the first half of the year was an exercise in damage limitation, the fund's performance was eye-watering in the second part of 2022. In all, the previous year was a disappointment, as the fund trailed both the category and the benchmark, though the gap is not glaring. However, its long-term performance remains untouched, when you look at its five-year rolling returns. Reasons for underperformance Somany Ceramics, Amber Enterpris
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